Civmec’s Growing Order Book Raises Execution and Market Expectations
Civmec Limited has reported solid half-year financial results with a growing order book and key contract wins, underpinning its position in construction and engineering sectors.
- 1HFY26 revenue of A$380.4 million with 12% EBITDA margin
- Net profit after tax of A$21.4 million and earnings per share of 4.21 cents
- Order book increased to A$1.35 billion, up from A$1.25 billion
- Interim fully franked dividend of 2.5 cents per share declared
- Major contract awards including BHP Port Debottlenecking and Fortescue decarbonisation projects
Strong Financial Performance
Civmec Limited has delivered a robust financial performance for the first half of fiscal 2026, reporting revenue of A$380.4 million and an EBITDA of A$46 million, representing a healthy margin of 12%. Net profit after tax stood at A$21.4 million, translating to a net profit margin of 5.6%. Earnings per share were recorded at 4.21 Australian cents, reflecting steady profitability.
The company’s cash position remains strong with A$87.6 million in cash and equivalents, and net assets of A$534.6 million, underpinning a net asset value per share of A$1.05. Civmec declared an interim fully franked dividend of 2.5 cents per share, consistent with the previous year, signalling confidence in its ongoing cash flow generation.
Growing Order Book and Contract Wins
The order book expanded to A$1.35 billion as of 31 December 2025, up from A$1.25 billion at the end of September. This growth was driven by a series of significant contract awards across multiple sectors, including resources, infrastructure, and defence. Notably, Civmec secured a major contract with BHP for the Port Debottlenecking Project 2 at Port Hedland, involving earthworks, concrete installation, and steel fabrication for critical infrastructure upgrades.
Other key wins include contracts with Fortescue Metals Group for charger facilities and pit power infrastructure supporting their decarbonisation initiatives, as well as steel fabrication and installation work for Inland Rail’s Albury to Illabo section in New South Wales. These contracts highlight Civmec’s diversified project portfolio and its ability to deliver complex engineering solutions.
Operational Milestones and Strategic Progress
Operationally, Civmec marked several milestones, including the launch of NUSHIP Pilbara, the third Arafura Class Offshore Patrol Vessel, at its Henderson shipyard. This milestone underscores the company’s growing role in Australia’s sovereign shipbuilding capabilities. The company also completed key fabrication phases for projects such as the Dalrymple Bay shiploader and Chevron’s Gorgon CO₂ optimisation modules, reinforcing its reputation for precision engineering and project delivery.
Recognition from BHP for vendor excellence further validates Civmec’s collaborative approach and operational excellence. Meanwhile, the expansion of its materials handling division, with multiple machines in design and assembly, points to ongoing innovation and growth opportunities within the business.
Looking Ahead
With a solid order book and a pipeline of early contractor involvement opportunities, Civmec is well positioned for sustained growth. The company’s focus on sustainable projects, including support for decarbonisation efforts, aligns with broader industry trends and government priorities. Leadership remains confident that the company’s integrated capabilities and experienced workforce will continue to drive value creation for shareholders.
Bottom Line?
Civmec’s expanding order book and steady earnings set the stage for continued growth amid evolving industry demands.
Questions in the middle?
- How will Civmec manage execution risks on its growing portfolio of complex projects?
- What impact will decarbonisation initiatives have on Civmec’s future contract opportunities?
- Can Civmec maintain dividend consistency while investing in new capabilities and markets?
